Personal Injury Compensation - How to Get the Compensation You Need
If you're involved in an accident it is normal to worry about your finances. This is especially true when the injuries you sustained are severe.
There are many options to claim compensation for your injuries. These include both economic and non-economic losses, like suffering and pain.
Economic Damages
Financial compensation is open to all who have been injured due to the negligence of another party. This compensation is designed to aid you in recovering from your injuries and get back to your pre-injury standard of living.
There are two types of damages monetary that can be granted in personal injury cases that are: economic damages and non-economic damages. The first is designed to compensate you for monetary losses caused by the accident, while the latter is designed to pay for the emotional pain that your accident has caused.
In many instances a judge or jury will award a victim damages to make up for their lost wages, medical expenses as well as rehabilitation services, along with the cost of property damage, like repair and replacement. This type of damage is concrete in that it can be documented with receipts or pay stubs, as well as bills.
A defendant's negligent conduct can cause different economic losses. These include:
Loss in Earning Capacity
A victim could be unable to earn as much following an injury. They could be forced take a lower-paying position or be permanently disabled.
Future earning capacity
This can be a challenging aspect to assess since it is dependent on the age, industry and trend of the victim's profession at the moment of the accident. The person may be young and their career that is growing, or they could be 58 and have a complete retirement plan.
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This is a problem for jurors as it requires a detailed analysis of the victim's past employment and the potential earnings for the future. A victim could be a recent graduate with a career in engineering.
- In addition to lost wages, the victim might have had other expenses such as medical bills, car repairs or even out-of pocket expenses for therapy or medication.
In the end, these expenses will total a significant amount of money. To settle a fair amount, add all of these costs together.
There are many variables that affect the amount of your economic damages. It is important to consult a skilled personal injury lawyer who can help you understand how these damages can be calculated and awarded. Your lawyer will provide you with a complete list of the totality of your losses and help you find experts who can assign a dollar amount to these losses in order to calculate your compensation.